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Rolls-Royce Holdings is reportedly planning to cut approximately 2,500 jobs globally as part of a cost-cutting initiative led by its new CEO, Tufan Erginbilgic. The job cuts are expected to impact hundreds of staff in the UK. Rolls-Royce has not yet commented on the reported job cuts. The company has been focusing on managing costs to counter inflationary pressures, and in May, it denied making any workforce changes.

Microsoft-owned LinkedIn has announced that it has laid off nearly 700 employees, predominantly from the engineering division, as well as the finance and human resources departments. The social network has witnessed a slowdown in year-over-year revenue growth for the past eight quarters, with just a 5% growth in the second quarter. The recent layoffs are part of Microsoft’s overall cost-cutting strategy, which included a previous announcement of 10,000 job cuts in January. LinkedIn is now focusing on recruiting in India, while assuring support and respect for affected employees during the transition.

Negotiations between Hollywood studios and the SAG-AFTRA actors’ union have been suspended, prolonging a three-month work stoppage. The breakdown in talks revolves around disputes over streaming revenue, the use of artificial intelligence, and other key issues. The Alliance of Motion Picture and Television Producers (AMPTP) stated that the gap between the two sides was too great, while SAG-AFTRA accused the studios of presenting an offer worth less than before the strike began.

One major point of contention is SAG-AFTRA’s demand for a share of streaming revenue, which the AMPTP believes would create an economic burden of over $800 million per year. The union also accused studios of refusing to protect performers from being replaced by AI, while the AMPTP claimed they would obtain actors’ consent for the use of digital replicas. Despite the recent Writers Guild of America (WGA) deal raising hopes for a quick resolution, the stalemate continues, impacting the film and television industry and leaving countless crew members without work.

The emergence of generative AI, which can produce humanlike text and images, has led to concerns about job displacement. However, a new wave of jobs is being created that focus on reviewing the inputs and outputs of next-generation AI models. Companies like Prolific connect AI developers with research participants who are paid to assess the quality of AI-generated material. These human reviewers help guide AI models, identify inaccuracies, and prevent the production of harmful content.

Additionally, prompt engineers play a role in optimizing AI responses by determining the best text-based prompts to use. Human oversight is still crucial for tasks like automating reviews of regulatory documents and legal paperwork, as AI models can make mistakes that need to be identified and corrected. As the demand for AI-related jobs continues to rise, it is important to ensure fair and ethical treatment of AI workers and transparency in AI model development.

Microsoft revealed in a filing with the SEC that the IRS has determined it owes $28.9 billion, along with penalties and interest, in unpaid taxes. The audit, covering the period of 2004 to 2013, focused on the company’s alleged transfer of $39 billion in profits to Puerto Rico through an intellectual property scheme. Despite losing a lawsuit to force the IRS to release audit records, Microsoft believes its tax bill should be reduced by $10 billion due to taxes paid under the Trump-era Tax Cuts and Jobs Act. The dispute is expected to enter a prolonged appeals process.

Didi Autonomous Driving, the self-driving vehicle subsidiary of Chinese ride-hailing giant Didi, has secured up to $149 million in funding from two investors affiliated with the municipal government of Guangzhou. The financing will enable Didi to deepen its research and development efforts, foster industry collaborations, and expedite the widespread commercial use of autonomous driving technology. The relationship with local governments is essential in China to launch robotaxis, and the investment suggests accelerated progress in Didi’s robotaxi rollout in Guangzhou, where its autonomous vehicles are already operating commercially in the Huadu District. Didi aims to introduce self-developed robotaxis on a 24/7 basis by 2025 and has partnered with several original equipment manufacturers, including Lincoln, BYD, Nissan, and Volvo. Moreover, its collaboration with GAC is further strengthened as the companies have formed a joint venture to mass produce electric robotaxis.

Germany’s government has revised its economic forecast, predicting a contraction of 0.4% for 2023 due to the energy price crisis and global economic weakness. This downward revision aligns with forecasts from the International Monetary Fund and German economic think tanks. However, the government anticipates a rebound in the economy next year and foresees GDP growth of 1.3% in 2024 and 1.5% in 2025. Factors contributing to Germany’s economic challenges include inflation, an aging population, digital technology lag, excessive bureaucracy, and a shortage of skilled labor. Chancellor Olaf Scholz has called for efforts to simplify bureaucracy to boost the economy.